Connecticut Ranks One of the Worst Places to Retire To
OK, we all know that Connecticut can be a tough place to live if you don't have scads of cash.
Just about everything costs more in our state. Hence, it's no surprise when setting the groundwork for retirement (unless your Aunt Harriet left you a couple million or you invested wisely, or if you were making $300,000 a year or if your grandchildren live in CT) it makes sense that the State of Connecticut is a lousy place to retire.
To prove that point, Wallethub.com crunched the numbers using retirement data from the U.S. Census Bureau and Centers for Medicare & Medicaid Services. It then used 45 different metrics to figure out the best and worst places to retire.
First, the bad news, New York and New Jersey came in dead last of places to retire, and Connecticut wasn't far behind at number 43. Did you know that in 2019, 26% of non-retired adults had not one cent saved for retirement?
Working with a financial planner, Mindy and I are finding out it will take more than our Social Security benefits to make ends meet, but at least we've been socking money away for retirement.
The top 5 states for retirement are Florida(You Say!), Colorado, Delaware, Virginia and North Dakota. Connecticut also came in near the bottom in the "Worst Taxpayer Rankings". Connecticut did crack the top 10 in "Highest Life Expectancy". We have so many friends who have either moved to Florida or have a winter home there, so I used Google Maps to track where they live so we could literally spend a month house jumping and not spend any money on accommodations. Yay!